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What should have happened - AIG should have been allowed to go under - money should have been made available to buyers for the assets of AIG to be auctioned for their true value - much cleaner & less hysterics. No money to AIG, NO lavish party in Vegas, No bonus, No theatrical opportunities for the loony's in DC.

I figure that by now AIG execs probably wish the company had gone under and were sold off too.

Gonna be real interesting how the 80% ownership by the government, in its present state of frenzy, will be able to entice the brightest minds to be employed by AIG. That is what will be needed to pull AIG back into a profitable company so the US taxpayer is repayed and can turn around and repay the note on the money borrowed from the Chinese.

Somehow I don't think the hiring of the same level of folks you would find at the local Social Security Office or DMV is gonna do it.

the Govt (and technically us) may own AIG but there is no oversight of the company, is there anyone appointed to sit on the board of directors...no..do they answer to anyone..no only after the fact, the politicians grandstand and march the execs in front of a hearing and they talk tough and brow beat them but it all political theatre..the dirty deeds have already been done...AIG should have been allowed to fail, they were on path to do so before the bailout..what happens if they fail now, then they just threw away our tax dollars down a rat hole

All my Exes live in Texas

Originally Posted by lanse brown

A few things that I learned still ring true. "Lanse when you get a gift, say thank you and walk away. When you get a screwing walk away. You are going to get a lot more screwings than gifts"

What should have happened - AIG should have been allowed to go under - money should have been made available to buyers for the assets of AIG to be auctioned for their true value - much cleaner & less hysterics. No money to AIG, NO lavish party in Vegas, No bonus, No theatrical opportunities for the loony's in DC.

You make a lot of sense on this forum.

The minority of us who are outraged by this nonsense perpetuated by our congress are outnumbered by those licking their chops for a chance to vote for Barry O' on American Idol.

These contracts came about as a result of the new CEO the government put in place from what I've read. Seems all to convenient doesn't it

I believe you'll find the contracts were written before the new CEO was hired (for the huge salary of $1/year). The current CEO said they were unjustified when he came in but they had already been signed and he believed the negative effects of abrogating them would outweigh the benefits.

Okay you may be right but i read an article this morning where the old CEO said he would never have allowed these contracts to happen and when he was the CEO the only bonuses given out were performance based.

the Govt (and technically us) may own AIG but there is no oversight of the company, is there anyone appointed to sit on the board of directors...no..do they answer to anyone..no only after the fact, the politicians grandstand and march the execs in front of a hearing and they talk tough and brow beat them but it all political theatre..the dirty deeds have already been done...AIG should have been allowed to fail, they were on path to do so before the bailout..what happens if they fail now, then they just threw away our tax dollars down a rat hole

I believe in his testimony on Capital Hill Ceo Liddy mentioned that there are members from the Treasury Department that sit on the board and are their for oversight. FWIW